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Arjo AB (0HQ8) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Arjo AB SEK 16.75, price SEK 26.96, upside -37.9%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Healthcare · GB · Home Sweden · ISIN SE0010468116

AA Broad data Sep 24, 2026

Arjo AB

0HQ8 · LSE

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value kr 16.75 · Strongly overvalued (−37.9%)
!Quality 59/100
!Mixed Growth (revenue 3y +3.3 %/yr)
!Thin margins · 3.5% net margin (TTM)
✓Low debt
·3.5% dividend yield · Safety not assessed
!Narrow moat 39/100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 115.36 kr 23.68 Fair Value kr 16.75 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range kr 23.68 – kr 115.36 · fair‑value band kr 12.54 – kr 23.07 · the kr 26.96 price screens above the kr 16.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Arjo AB (publ) develops and sells medical devices and solutions for patients for clinical and financial outcomes for healthcare in Europe, Asia, Latin America, Africa, and the Pacific.

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Arjo AB (publ) develops and sells medical devices and solutions for patients for clinical and financial outcomes for healthcare in Europe, Asia, Latin America, Africa, and the Pacific. It offers products and solutions for patient handling, hygiene, disinfection, medical beds, pressure injury prevention, diagnostics, hygiene, prevention of pressure injuries and blood clots, and leg ulcer treatment and prevention, as well as for obstetric and cardiac diagnostics. The company also provides dementia care, bariatric room solutions, prone positioning, early mobility, architects and planners, and rehabilitation services, as well as equipment repair and maintenance, and equipment rental and financing solutions. It serves private and public institutions that provide acute and long-term care. Arjo AB (publ) was founded in 1957 and is headquartered in Malmö, Sweden.

Stock analysis

Arjo AB (0HQ8) currently trades at kr 26.96, while our model-based Fair Value estimate is kr 16.75, 37.9% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of kr 18.18 per share, and 2 of the 23 models we run sit above the kr 26.96 price.

Bear case: the Dividend Discount group reads lowest at kr 4.68, and 21 of the 23 models stay below the price. Evidence for this calculation is high.

Scenario range: kr 12.54 (bear) to kr 23.07 (bull), the price of kr 26.96 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 59/100 (solid quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Arjo AB reported revenue of 9.1B SEK in FY2021 versus 7.7B SEK in FY2017, a compound +4.2%/yr. Reported net income was 742M SEK in FY2021, compounding +58.4%/yr from FY2017. FY2017 was a trough year, so the rate overstates the trend.

Key figures

Market cap 21.7B SEK (≈ $2.2B) · P/S ratio 1.99 · Dividend yield 3.5% · Net margin 8.2% · Return on equity 5.0% · Return on assets (EBIT) 4.9% · Operating margin 7.7% · Revenue (TTM) 10.9B SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).

What moves the price

The share trades about 14% below its 52-week high and 14% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 37% fair-value upside, at −38%, 0HQ8 screens richer than that median.

Fair Value models

Bear kr 12.54 Fair Value kr 16.75 Bull kr 23.07
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF kr 11.94 kr 15.96 kr 22.08 77
Growth DCF kr 12.30 kr 16.11 kr 21.62 76
EPV kr 11.27 kr 12.93 kr 14.35 74
All 23 models by family
DCF Models
FCF DCF kr 11.94 kr 15.96 kr 22.08 77
5Y Revenue Exit kr 12.04 kr 17.42 kr 24.44 69
5Y EBITDA Exit kr 20.07 kr 31.30 kr 44.64 71
5Y P/E Exit kr 13.20 kr 19.41 kr 25.99 68
10Y Revenue Exit kr 11.58 kr 16.23 kr 21.71 64
10Y EBITDA Exit kr 16.76 kr 25.27 kr 35.39 65
10Y P/E Exit kr 12.60 kr 17.53 kr 22.76 62
Earnings-Based
Graham-Dodd kr 6.27 kr 12.13 kr 15.15 63
EPV kr 11.27 kr 12.93 kr 14.35 74
Dividend Discount
Gordon GGM kr 3.41 kr 4.68 kr 5.92 66
DDM Multi-Stage kr 3.41 kr 4.68 kr 6.12 64
Multiples
P/E Multiple kr 15.21 kr 20.28 kr 25.35 63
P/S Multiple kr 11.75 kr 15.67 kr 19.59 58
P/B Multiple kr 11.75 kr 15.67 kr 19.59 55
EV/EBIT kr 17.85 kr 23.54 kr 29.22 66
EV/EBITDA kr 28.87 kr 38.23 kr 47.59 67
EV/Revenue kr 12.97 kr 18.18 kr 23.40 54
Asset-Based
NCAV (Graham) kr 4.28 kr 5.73 kr 8.55 54
Growth DCF
Growth DCF kr 12.30 kr 16.11 kr 21.62 76
Rev-Margin DCF kr 12.04 kr 17.59 kr 23.80 70
Economic Profit
Residual Income kr 7.63 kr 8.48 kr 10.37 73
ROIC Compounder kr 11.48 kr 13.57 kr 15.73 69
Growth Earnings
Growth-Adj P/E kr 10.91 kr 15.58 kr 20.26 65

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Quality Score breakdown

Overall quality 59/100

Of which business quality 59 · Market factors (momentum, volatility) 52

Profitability 44
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 51/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−0.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
3.7% (2017) → 11.9% (2021)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

0HQ8 screens overvalued: fair value 38% below the price. Compare with McKesson Corporation →

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Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Medical Distribution stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
McKesson Corporation MCK $864.82 $822.74 −5%
Cencora, Inc COR $309.78 $215.20 −31%
Cardinal Health, Inc CAH $220.29 $162.84 −26%
Henry Schein, Inc HSIC $86.37 $76.77 −11%
Shanghai Pharmaceuticals Holding 601607 ¥16.02 ¥42.67 +166%
Sinopharm Group 1099 HK$14.88 HK$55.77 +275%
Galenica AG GALE CHF 82.55 CHF 61.79 −25%
Guangzhou Baiyunshan Pharmaceutical Holdings 600332 ¥19.39 ¥26.64 +37%
Jointown Pharmaceutical Group 600998 ¥5.05 ¥9.84 +95%
China National Medicines Corporation 600511 ¥25.80 ¥58.47 +127%

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Cite: Fair Value Calculator (2026). "Arjo AB Fair Value". https://www.fairvalue-calculator.com/stock/0HQ8

Frequently asked questions

Is Arjo AB (0HQ8) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 16.75 versus a price of kr 26.96, about −38% upside (overvalued).
What is the fair value of 0HQ8?
Our model-based fair value for Arjo AB is kr 16.75 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 26.96.
What is the quality score of 0HQ8?
Arjo AB has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Arjo AB (0HQ8)?
Our model-based price target is the fair value of kr 16.75 (as of Sep 24, 2026) from 23 valuation models. Cautious scenario kr 12.54, optimistic scenario kr 23.07. It is a calculation from audited fundamentals, not an analyst target.
What is the Arjo AB stock forecast for 2026?
Our models put fair value at kr 16.75, about −38% upside versus a price of kr 26.96 (overvalued). Cautious scenario kr 12.54, optimistic scenario kr 23.07. The calculation is refreshed regularly with new filings.
What is the revenue of Arjo AB (0HQ8)?
Arjo AB reported trailing-twelve-month revenue of about 10.9B SEK (latest available figure, as of Sep 24, 2026).
Does Arjo AB pay a dividend?
Arjo AB currently shows a dividend yield of about 3.52% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Arjo AB (0HQ8)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Arjo AB it is kr 16.75 per share (as of Sep 24, 2026), against a price of kr 26.96. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Arjo AB stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0HQ8 trades above its calculated fair value: price kr 26.96, fair value kr 16.75, a gap of about −38% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0HQ8?
No. The price is what the market pays today (kr 26.96); the fair value is what the company's own numbers justify (kr 16.75). For Arjo AB the two are kr 10.21 per share apart. That gap is exactly why we show both numbers side by side.
How much is Arjo AB worth?
The market values Arjo AB at about 21.7B SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 26.96; our models calculate a fair value of kr 16.75 per share.
What do the bullish and bearish scenarios say about 0HQ8?
Our models span a range for Arjo AB: cautious scenario kr 12.54, base kr 16.75, optimistic kr 23.07 per share (as of Sep 24, 2026, price kr 26.96). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0HQ8 from its 52-week high?
Arjo AB trades at kr 26.96, about 14% below its 52-week high of kr 31.30 and 14% above the low of kr 23.68 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 16.75 is for.
Which stocks are comparable to Arjo AB?
From the same area (Healthcare) we also value McKesson Corporation, Cencora, Inc, Cardinal Health, Inc, Henry Schein, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Arjo AB stock attractive at the current price?
The data as of Sep 24, 2026: price kr 26.96, calculated fair value kr 16.75 (−38%), Quality Score 59/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0HQ8 calculated?
We run Arjo AB through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 16.75, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Arjo AB itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Arjo AB (0HQ8)?
The closing price on Oct 2, 2026 was kr 26.96. Our model-based fair value is kr 16.75, about −38% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Arjo AB right now?
The price sits above even our optimistic bull case (kr 23.07). The favourable scenario is already priced in. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 12.54 to kr 23.07) leaves room in how you read the outcome.

Key figures of Arjo AB

How large is the market capitalisation of Arjo AB (0HQ8)?
The market capitalisation of Arjo AB is 21.7B SEK (≈ $2.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Arjo AB (0HQ8)?
The price-to-sales ratio of Arjo AB is 1.99 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Arjo AB (0HQ8)?
The dividend yield of Arjo AB is 3.5%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Arjo AB (0HQ8)?
The net margin of Arjo AB is 8.2% (fiscal year 2021). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Arjo AB (0HQ8)?
The return on equity (ROE) of Arjo AB is 5.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Arjo AB (0HQ8)?
On an EBIT basis the return on assets of Arjo AB is 4.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Arjo AB (0HQ8)?
The operating margin of Arjo AB is 7.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Arjo AB (0HQ8)?
Revenue at Arjo AB is growing +3.0% versus a year earlier (3y avg +3.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Arjo AB (0HQ8)?
Earnings per share at Arjo AB are growing +35.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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